Section 45-54-26. – Inconsistent provisions.
§ 45-54-26. Inconsistent provisions. Insofar as the provisions of this chapter are inconsistent with the provisions of any charter or other law or ordinance, general, special, or local, or of any rule or regulation of the state or any municipality, the provisions of this chapter are controlling. History of Section.P.L. 1991, ch. 421, § 1.
Section 45-54-27. – Severability.
§ 45-54-27. Severability. If any one or more sections, clauses, sentences, or parts of this chapter shall, for any reason, be adjudged unconstitutional or otherwise invalid in any court, that judgment shall not affect, impair, or invalidate the remaining provisions, but shall be confined in its operation to the specific provisions so held unconstitutional or […]
Section 45-54-28. – Construction.
§ 45-54-28. Construction. Whenever the context permits in this chapter, the use of the plural includes the singular and the plural, and the use of any gender is deemed to include all genders. History of Section.P.L. 1991, ch. 421, § 1.
Section 45-54-17. – Credit of state and political subdivisions not pledged.
§ 45-54-17. Credit of state and political subdivisions not pledged. (a) Revenue bonds issued under the provisions of this chapter are not deemed to constitute a debt or a pledge of the faith and credit of the state or the municipality, but are payable solely from the funds provided from revenues. All revenue bonds shall […]
Section 45-54-18. – Use of projects.
§ 45-54-18. Use of projects. The use of the facilities of the corporation and the operation of its business are subject to the rules and regulations from time to time adopted by the corporation; provided, that the corporation is not authorized to do anything which will impair the security of the holders of the obligations […]
Section 45-54-19. – Capital reserves.
§ 45-54-19. Capital reserves. To assure the continued operation and solvency of the corporation for the carrying out of its corporate purposes, the corporation may create and establish one or more special funds ( referred to as “capital reserve funds” in this chapter), and may pay into each capital reserve fund: (1) Any monies appropriated […]
Section 45-54-20. – Bonds eligible for investment.
§ 45-54-20. Bonds eligible for investment. The notes and bonds of the corporation are securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks, and saving associations, including […]
Section 45-54-21. – Limitation of powers.
§ 45-54-21. Limitation of powers. The state pledges to and agrees with the holders of any bonds or notes issued by the corporation, that the state will not limit or alter the rights vested in the corporation to fulfill the terms of any agreements made with the holders until those bonds or notes, together with […]
Section 45-54-22. – Annual report and audit.
§ 45-54-22. Annual report and audit. Within one hundred twenty (120) days from the close of its fiscal year, the corporation shall make an annual report to the chief executive officer and legislative body of the municipality of its activities for the preceding fiscal year. Each report shall present a complete operating and financial statement […]
Section 45-54-23. – Transfers to governmental body.
§ 45-54-23. Transfers to governmental body. When all bonds issued under the provisions of the chapter for each specific project and their interest have been paid, or a sufficient amount for the payment of all the bonds and their interest to the maturity of the bonds have been set aside in trust for the benefit […]